ATOS Stock Price Increases Over 11% Pre-Market: Why It Happened

By Amit Chowdhry ● January 25, 2021
  • The stock price of Atossa Therapeutics Inc (NASDAQ: ATOS) increased by over 11%. This is why it happened.

The stock price of Atossa Therapeutics Inc (NASDAQ: ATOS) increased by over 11% pre-market as of 7:31 AM ET. Investors appear to be responding to the company filing a form S-3 about 10.5 million shares being sold.

The prospectus covers the sale of an aggregate of 10.5 million shares of common stock, $0.18 par value per share. The shares are issuable upon the exercise of warrants purchased by the selling stockholders in a private placement transaction.

Atossa Therapeutics is not going to receive any proceeds from the sale by the selling stockholders of the shares. But the company will receive proceeds from the exercise of the warrants if the warrants are exercised for cash. Atossa Therapeutics intends to use those proceeds (if any) for general corporate purposes.

The selling stockholders include Armistice Capital, Anson Investments, CVI Investments, Empery, Hudson Bay, Intracoastal Capital, and Sabby.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.